We’ve researched a lot and we have found that the most common reasons clients jump ship to a new company is due to the lack of communication, what is startling is many agencies do not have a communication plan in place.

 

Over the past 10 years the numerous ways to communicate with clients has transformed over the past decade – from the traditional mailing or phone calls, to emailing, social media, audio recording and project management tools. With so many various options available, one would think that communication would now be so much easier. In retrospect it seems the real challenge is for agencies to find the best way to communicate with clients in a sea of so many available options.

 

Here are five ways we think that you can improve your client communication plan:

1)  Survey your clients:  Determine your clients preferred method of communication by providing a menu of options of what you can provide – mail, email, group conference calls, project management tools, social media, etc.

2)  Pinpoint your client needs: Provide educational material based on the needs of your clients and prospects. Generalised information is acceptable but we think here at DREAMRANDOM however that understanding the challenges clients are facing and then providing them with specific and valuable information in relation to their challenges will position you as a go-to-advisor and increase your referral pipeline.

3)  Create a communication calendar:  Identify the type of information you will need to deliver, example: newsletters, market calls, and informative articles based on need. Provide updates to clients via their communication preference.

4)  Track email opens and clicks:  Most email programs will provide data to determine what percentage of your emails are being opened. Resend your email to those clients or prospects that did not open the email after a 72-hour period. Tip – review your subject line and modify it to grab their attention.

5)  Talk to your clients: Take time to simply find out how things are going. Allow time for clients to ask questions and get to know them outside of “portfolio review time.”

By Tony Nwachi on 8 December 2016